Central Portugal - How to buy

Here are the basic steps to help you understand the buying procedures and legal requirements that are involved in buying a property in Central Portugal.
We suggested that legal advice be sought in any purchase, if necessary we can recommend an English-speaking solicitador or lawyer.
It is also often convenient for the buyer to ask a third party to act on their behalf the process of buying a property. A document called " Procuração" is prepared with the necessary detalles and registered in the Notary to serve these purposes.
This can also be Implemented in the Portuguese consul in a foreign country.
First and fore most you will need to obtain from the tax office "Finanças" a fiscal Number, we will help you with this and also the opening of a bank account.
The fiscal number is necessary when you buy a property. This is easily donne at the local town, all one needs this number.
Before the final purchase is completed you will be subject to a state payment IMT which you will pay at the local tax office before the finals deeds are signed.
The cost of this tax is dependant on the nature of the purchase and does vary.
Once all of the above requirements are complete the final act will take place at the notary office, this act is called ESCRITURA DE COMPRA E VENDA which will be recorded in the notaries official records.
At this time the final payment is given to the seller, you will be given a copy of this document as is the equivalent to a litle deed in the England.
Once the property has been bought and registered with the conservatoria, the new owner has 60 days in which to present a plan of the property to finanças, this is not done, there will be a fine.